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Payroll

The payroll period for January 2024 includes three employees: David Brown, Jennifer Anderson, and Sarah Davis, with total gross earnings of $9,900.00 and total deductions and taxes amounting to $2,615.10. After deductions, their net pay totals $7,284.90, with individual net pays of $2,844.00 for David, $2,388.20 for Jennifer, and $2,052.70 for Sarah. Deductions include federal and state income taxes, Social Security, Medicare, and health insurance contributions.

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28 views3 pages

Payroll

The payroll period for January 2024 includes three employees: David Brown, Jennifer Anderson, and Sarah Davis, with total gross earnings of $9,900.00 and total deductions and taxes amounting to $2,615.10. After deductions, their net pay totals $7,284.90, with individual net pays of $2,844.00 for David, $2,388.20 for Jennifer, and $2,052.70 for Sarah. Deductions include federal and state income taxes, Social Security, Medicare, and health insurance contributions.

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Payroll Period: January 1, 2024 - January 31, 2024

Employee Details:

​ David Brown:
● Employee ID: DB2024
● Position: Accountant
● Department: Finance
● Date of Hire: April 15, 2023
● Monthly Salary: $4,000.00
● Total Earnings: $4,000.00
​ Jennifer Anderson:
● Employee ID: JA2024
● Position: Sales Representative
● Department: Sales
● Date of Hire: February 10, 2023
● Hourly Rate: $20.00
● Hours Worked: 160
● Total Earnings: $3,200.00
​ Sarah Davis:
● Employee ID: SD2024
● Position: Customer Service Specialist
● Department: Customer Service
● Date of Hire: January 5, 2023
● Hourly Rate: $18.00
● Hours Worked: 150
● Total Earnings: $2,700.00

Deductions and Taxes:

​ Federal Income Tax (FIT):


● David Brown: $600.00
● Jennifer Anderson: $400.00
● Sarah Davis: $300.00
​ State Income Tax (SIT):
● David Brown: $150.00
● Jennifer Anderson: $100.00
● Sarah Davis: $75.00
​ Social Security Tax (SS):
● David Brown: $248.00
● Jennifer Anderson: $192.00
● Sarah Davis: $180.00
​ Medicare Tax (Med):
● David Brown: $58.00
● Jennifer Anderson: $44.80
● Sarah Davis: $42.30
​ Health Insurance Deduction:
● David Brown: $100.00
● Jennifer Anderson: $75.00
● Sarah Davis: $50.00

Total Gross Earnings:

● David Brown: $4,000.00


● Jennifer Anderson: $3,200.00
● Sarah Davis: $2,700.00

Total Deductions and Taxes:

● David Brown: $1,156.00


● Jennifer Anderson: $811.80
● Sarah Davis: $647.30

Net Pay (After Deductions and Taxes):

● David Brown: $2,844.00


● Jennifer Anderson: $2,388.20
● Sarah Davis: $2,052.70

Payroll Summary:

● Total Gross Earnings: $9,900.00


● Total Deductions and Taxes: $2,615.10
● Total Net Pay: $7,284.90

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